Pressrelease from Glen Moray/Glenmorangie Plc:
Glenmorangie progresses the sale of Glen Moray Distillery and brand
The Glenmorangie Company announces it has signed a Heads of Terms agreement for the sale of the Glen Moray Distillery in Elgin and the Glen Moray single malt Scotch whisky brand with the independent French spirits company, La Martiniquaise.
The sale of the Glen Moray Distillery represents an important part of The Glenmorangie Company’s re-organisation plans announced in July, which incorporate a major investment programme worth £45 million. The plans will see the Company focus on developing its highly successful, premium, international single malt Scotch whisky brands – Glenmorangie and Ardbeg – to meet the growing demand for single malt whisky in key and emerging markets such as Asia, Europe and the USA.
The Glen Moray Distillery will be sold as a going concern. It is expected that all the existing employees will transfer to the new owners as part of the sale agreement.
The deal is expected to formally complete before the end of October.
La Martiniquaise is a major spirits group in France. The Company, which is headquartered near Paris, already has significant Scotch whisky operations at Bathgate, West Lothian where Glen Turner single malt and Label 5 blended Scotch whisky are bottled – both leading Scotch whisky brands in France.
Chief Executive of The Glenmorangie Company, Paul Neep said: “We believe that La Martiniquaise will provide an excellent ‘home’ for the Distillery, the brand and its employees and they will continue to develop and expand the Glen Moray brand.”
Glen Moray Distillery was originally built as a brewery in 1831 and was converted to a distillery in 1897. The Glenmorangie Company has owned the distillery since 1920.